SESPACE(SZ:002135)2023-02-09 10:28Group 1: Company Performance - In 2022, the company signed new contracts totaling RMB 146.16 billion, a 2.86% increase compared to the previous year, with total contracts and bids amounting to RMB 187.21 billion [1] - The fourth quarter of 2022 saw fluctuations in orders due to pandemic policies and sudden changes in restrictions [1] Group 2: Business Structure and Strategy - The company's orders are divided into steel structure subcontracting and general contracting, with the latter's proportion increasing year by year [1] - The general contracting projects primarily focus on government-funded public welfare projects such as hospitals and schools, concentrated in economically strong regions like Zhejiang [1] Group 3: BIPV Business Development - The company is actively developing green low-carbon industries, particularly in building-integrated photovoltaics (BIPV), responding to the government's carbon neutrality goals [2] - In 2022, the company successfully undertook several key distributed photovoltaic projects, including collaborations with local governments and enterprises [2] Group 4: Production Capacity - The company has six production bases in regions such as Zhejiang, Sichuan, Tianjin, and Guangzhou, with current steel structure production capacity around 600,000 tons, expected to reach 700,000 tons in the future [3] - The growth of the company's business is not solely dependent on its own production capacity, as some production demands can be met through outsourcing [3] Group 5: Chemical Fiber Business - The chemical fiber industry faced multiple adverse factors in 2022, including weak downstream demand and rising production costs, leading to a decrease in profit margins [3] - As pandemic control measures were adjusted, downstream demand began to recover, with improvements in product price differentials noted in January [3] Group 6: Raw Material Cost Management - The company employs several strategies to manage raw material price fluctuations, including centralized procurement and strategic partnerships with key suppliers [3] - The proportion of open and semi-open contracts is gradually increasing, which helps in cost control [3]